In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, announced that an AI Opportunities Action Plan will be published, the Independent Film Tax Credit can be claimed from April 2025, the small and medium-sized enterprises (SME) taskforce has been extended and a review into the barriers to transformative technologies will be conducted. Further, investments of £2bn into NHS innovation, £500m into Project Gigabit and Shared Rural Network, £340m into the Single Intelligence Account (SIA) settlement, £3m into the Creative Careers Programme and £25m into the North East Mayoral Combined Authority (NEMCA) have been confirmed. Rosie Burbidge, partner at Gunnercooke LLP, comments on the AI Opportunities Action Plan.

In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, announced planned reform to public criminal justice services as well as a focus on tackling welfare fraud.

In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP announced several measures impacting the environment and energy sectors. These include changes to the Climate Change Levy (CCL) rates, an increase in the Plastic Packaging Tax (PPT) rate, the launch of a consultation on draft supplementary Environmental Impact Assessment (EIA) guidance, (in light of the implications of the recent Finch judgment), tax relief measures for decommissioning payments by oil and gas companies where this is associated with asset transfers to a Carbon Capture Usage and Storage (CCUS) company,  reaffirmation of funding for CCUS Track-1 projects and the successful HAR1 green hydrogen projects, funding commitment for the continued new nuclear development of Sizewell C, favourable measures in relation to Electric Vehicles (EVs) and associated charging infrastructure, confirmation that the UK Carbon Border Adjustment Mechanism (UK CBAM) will be introduced from 1 January 2027 and, in respect of oil and gas companies, the reform of the Energy Profits Levy (EPL).

The chancellor of the exchequer, Rachel Reeves, has delivered the government’s Autumn Budget 2024. Announcements that impact the financial services sector include reform of the way carried interest is taxed, ensuring that this is in line with the economic characteristics of the reward; the government is to proceed with the introduction of the Reserved Investor Fund (Contractual Scheme); and a decision to extend the Cryptoasset Reporting Framework (CARF)’s reporting requirements to UK users.

In the Autumn Budget 2024, on 30 October 2024, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, made several announcements of relevance to local government practitioners, including on public procurement, governance, healthcare, social housing, education, children’s social care, social care, planning and local government finance. The government noted how ‘local government is essential to the running of the country’ and how it helps to deliver vital services. Andrea Squires at Winckworth Sherwood and Amardip Healy at Blake Morgan LLP have commented on the measures announced and the impact on local government practitioners.

Chancellor of the Exchequer, Rachel Reeves, has delivered the Autumn Budget 2024. Areas to note for the property industry include investment in housing delivery, a stamp duty land tax increase on second homes, business rates reliefs and reform and a rise in capital gains tax rates.

Private Client analysis: At Autumn Budget 2024, it was confirmed that the remittance basis of taxation will be abolished and a residence-based regime for inheritance tax (IHT) will be introduced from 6 April 2025. Alison Cartin, Senior Counsel–Knowledge, Taylor Wessing LLP considers these reforms to the taxation of UK resident non-UK domiciled individuals (non-doms) and the practical points.

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note draws together analysis on the key milestones of the 2014/15 Budget and Finance Bill process. It includes commentary on Summer Budget 2015, Budget 2015 and Autumn Statement 2014, analysis of the provisions of Finance Bill 2015, Finance Act 2015 and Summer Finance Bill 2015. For a detailed explanation of the annual Budget and Finance Bill process, including the procedural aspects of the passing of a Finance Act, see: The Budget and Finance Bill process. For more information on the implications of a general election on the Finance Bill process, see our News Analysis: What does the general election mean for the Finance Bill process? Finance (No 2) Act 2015 The Finance (No 2) Act 2015 received Royal Assent on 18 November 2015. The Summer Finance Bill 2015 was published on 15 July 2015. For a summary of the progression of SFB 2015 through Parliament, see Practice Note: Finance (No 2) Act 2015—progress through

ARCHIVED: This Practice Note draws together analysis on the key milestones of the 2014–15 Budget and Finance Bill process. It includes commentary on the Autumn Statement 2014 and Budget 2015, analysis of the draft provisions of Finance Bill 2015 and commentary on the Finance Act 2015. For a detailed explanation of the annual Budget and Finance Bill process, including the procedural aspects of the passing of a Finance Act, see: The Budget and Finance Bill process. For more information on the implications of a general election on the Finance Bill process, see our News Analysis: What does the general election mean for the Finance Bill process? Summer Finance Bill 2015 The draft Summer Finance Bill 2015 was published on 15 July 2015. Key information can be found in: • Draft Summer Finance Bill 2015 clauses and explanatory notes, and • Overview of Draft Summer Finance Bill 2015 Detailed analysis on key measures can be found in Summer Finance Bill 2015. Summer Budget 2015 Following the Conservative's

ARCHIVED This Practice Note draws together analysis on the key milestones of the 2015–16 Budget and Finance Bill process. It includes commentary on the Autumn Statement 2015 and Budget 2016, analysis of the draft provisions of Finance Bill 2016 and commentary on the Finance Act 2016. For a detailed explanation of the annual Budget and Finance Bill process, including the procedural aspects of the passing of a Finance Act, see: The Budget and Finance Bill process. Finance Act 2016 The Finance Act 2016 received Royal Assent on 15 September 2016. For details of the legislative history, see: Finance Act 2016. Finance Bill 2016 Finance Bill 2016 (strictly, Finance (No.2) Bill 2015-16) was

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note draws together analysis on the key milestones of the 2015/16 Budget and Finance Bill process. It includes commentary on Autumn Statement 2015, the draft Finance Bill 2016, Budget 2016 and Finance Bill 2016. For a detailed explanation of the annual Budget and Finance Bill process, including the procedural aspects of the passing of a Finance Act, see: Practice Note: The Budget and Finance Bill process. Finance Act 2016 The Finance Act 2016 received Royal Assent on 15 September 2016, following the completion of its passage through the House of Lords on 13 September 2016. Finance Bill 2016 Finance Bill 2016 (strictly, Finance (No.2) Bill 2015-16) was published, with accompanying explanatory notes, on Thursday, 24 March 2016. For comprehensive tracking of the Finance Bill measures, including summaries and analysis of the key tax provisions, see Practice Note: Finance Act 2016—progress through Parliament. Lexis+® UK

ARCHIVED: This Practice Note draws together analysis on the key milestones of the 2016–17 Budget and Finance Bill process. It includes commentary on the Autumn Statement 2016 and Spring Budget 2017, analysis of the draft provisions of Finance Bill 2017 (FB 2017) and commentary on the Finance Act 2017 (FA 2017). It also tracks the progress of the second Finance Bill 2017, which contains a considerable number of measures which were dropped from the Finance Act 2017. For a detailed explanation of the annual Budget and Finance Bill process, including the procedural aspects of the passing of a Finance Act, see Practice Note: The Budget and Finance Bill process. Second Finance Bill 2017 On 8 September 2017, the government published the second Finance Bill 2017, which reinstates a substantial number of provisions which were dropped from the Finance Act 2017 due to the calling of the June 2017 general election. Some of the clauses contained in the second Finance Bill 2017 had been republished on 13 July 2017 (see LNB News